The following Act of Parliament received the assent of the President on the 31st March, 2023 and is hereby published for general information. The Finance Act, 2023 (No. 8 of 2023) dated 31.03.2023. This giving effect to the financial proposals of the Central Government for the financial year 2023-2024.
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THE FINANCE BILL, 2023 (As introduced in Lok Sabha)
Speech of Dr. Palanivel Thiaga Rajan, Minister for Finance and Human Resources Management, Government of Tamil Nadu, resenting the Budget Estimates for the year 2023-24 to the Legislative Assembly on 20th March 2023.
The Punjab government, which was not able to meet most of its targets from revenue receipts, has estimated a revenue deficit of 3.52 per cent and fiscal deficit of 4.98 per cent for the Budget 2023-24. An analysis reveals that the government targeted an amount of Rs 95,378 crore from revenue receipts but was able […]
Punjab Finance Minister Harpal Singh Cheema Friday announced the launch of a new scheme to check theft of tax revenue by unscrupulous traders and shopkeepers. Cheema announced the scheme -‘Bill Leyao, Inaam Pao’ (Bring a bill, Get reward) – while presenting the 2023-24 state budget in the Punjab Vidhan Sabha here. “In order to formalise […]
Amnesty Scheme will be called as, ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’. This Scheme is applicable on various taxes levied by GST Department before introduction of GST Act and duration of this Amnesty Scheme will be from May 1, 2023 to October 31, 2023. Complete waiver of the […]
Maharashtra deputy chief minister Devendra Fadnavis presented the state budget based on the principle of ‘Panchamrut’. Real estate sector welcomes 1% stamp duty waiver for women home buyers Cyrus Mody, Founder & Managing Partner at Viceroy Properties, welcomed the Budget provision of a one percent stamp duty waiver for women homebuyers. This will empower more […]
ABSTRACT : The Budget – 2023 has come up with a plethora of changes proposed in the field of Direct Taxes. Proposed changes cover Income Tax & TDS both. Besides extending tax rebate up to Rs.7.00 lakhs under new regime, it effects the assesses who are taxed under the heads, Salary, Business & Profession, Capital […]
Companies are unlikely to see any relaxation in the budget provision related with no ITC (Input Tax Credit) for CSR (Corporate Social Responsibility) expenses. However, they will not be asked to deposit ITC, availed any time since implementation of GST till date. The Finance Bill 2023 proposes to amend section 17 of CGST Act “to […]